September 2024 Financials
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- Create Date September 30, 2024
- Last Updated November 26, 2024
September 2024 Financials
The September 2024 financial report is now available for review on the Treasure Lake website. Here are the key highlights:
- September Net Income $-21,740 compared to $-25,357 in September 2023. A $3,617 improvement year over year (yoy)
- Cost of Sales: $215,842 compared to $261,735 in 2023. Decreased by $45,893 yoy.
- Operating Expenses: Reduced by $328,375 yoy.
- YTD Bottom Line: A profit of $200,716, a significant improvement from the $271,367 loss in 2023, marking a $472,083 year-over-year improvement
The Board of Directors, General Manager Steven Mills, and the Finance Committee remain committed to consistently improving our financial performance. We are pleased to report significant progress compared to 2023 results and appreciate your patience as we ensure the accuracy of our reporting before it is released.
In September, we continued to face challenges in receiving timely responses from Abacus CPAs. For instance, an unresolved issue regarding a small negative balance in the ATM account remains under review, as it appears to be an error. However, these inquiries do not materially affect the overall monthly results.
Additionally, we are making excellent progress toward transitioning the accounting function in-house by January 2025. This change will enable us to provide more accurate and timely financial reporting to you, our owners.